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I know many do gloat and seen it before it is ugly. I know how bad it is too lose money and my heart goes out to you guys and hope you do well elsewhere. I have lost on many shares and am thinking of calling it a day. AIM is a minefield. It offers false hope and most lose out. Some gain from time to time, but like horse gambling few admit to losing but tell you of their gains. This is the hard reality.
I just see this as a given. I was a holder and sold some time back I think I sold around about the 20 pence level. Wish you all the best in your Future holdings.
A speculative buy if you can afford to lose could be CPX. I have made about £40,000 trading it. Got someone building a stake. Had lots and lots of issues and is at rock bottom. Easy 20% to be made if your interested. from 0.080 to 0.010
All the best to you and others who are down here.
Why would Avani keep it afloat. It could lend the company money but why continue a listing. I think Avani will offer to lend the company money or another Debtor in Possion by way of the court may lend the company money. BEN could survive however this does not mean the shareholder will remain shareholders. The company shares will no doubt be delisted as a condition of the loan. So share suspension next week or week after as the company has no money to continue to be listed or even trade. Absolutely dire. Investors led up the garden path. Trade on Aim at your peril.
Hi,
Don't think this is Gloating.... read it word for word, we're all in the same boat with (currently) a loss.
We all play the game... win or lose
Good luck all
Mulekick
I am not gloating. Just stating facts that I am interpreting. I see no way out for the company now. Looks like Avani can get a full take-over for free and can claim this from the administrator that I believe the company will call in themselves. The company can still be in Chapter 11. The company will go on but the assets stripped from the holders here. Next week is my guess. The company will release an RNS saying there is little value left for shareholders not that they do not see that already. I think in order to protect its creditors the company itself my call in the administrators in the UK. It has no funds to continue to pay for a listing. In weeks or less perhaps by end of the month, the board will call it a day and announce the shares are suspended. No gloating her whatsoever. Just facts as I see them. For your sakes I hope I am wrong and stand corrected. I hope you will not loose to much on this. We all lose at time to time in this game. Good luck. Hope your other shares do well.
Sushi, you really seem to be revelling in the current state of things. Why? Do you have an agenda or do you just enjoy gloating at other's misfortune who have lost out (in some cases their life savings).
If it's the former then it would help others to understand your motives.
If the latter then it's very inconsiderate and frankly a dick move. Exactly how does gloating help anyone apart from fluffing your own ego?
I guess you know more than the bankruptcy judge then ..
The management no doubt will call in the administrators to protect its creditors. Avani can now claim all of the assets to offset its loans. It just needs to call in the administrators itself if the management do not do. Really it is the job of the directors to do this. Bad news to come any day. RIP
Bloody hell this has to 500 bag to reach highs of 2 years ago...what a mess
Interesting thought, Its high risk enough without anymore of my money though.
Seriously good luck to all involved .....workers and shareholders.
Been starting to follow this one slightly and be keen to hear others thoughts but to me there is quite a large (but risk!) opportunity here for turnaround. Two DIP bidders (we know one is Avani of course) will be interesting to see how it plays out.. there is potential here to run the company into a healthier state and with two DIP bidders I wonder whether the overall aim could be business sale.. as I say high risk but may be something in it
Are you having a fit ? Fo you need intervention ?
Or is it just psychosis taking great pleasure in seeing Ben go under and taking shareholders with it.
That’s kinda messed up.
A bit of a crappy human being to take pleasure in that
give it a fecking rest will you you ****
TAKE YOUR MONEY BEFORE IT IS ALL GONE.
Avani to call in loans and put the company into administration. Then take the assets from the administrator to cover loans. Looks like it is back into care and maintenance from whence it came. Its all over guys. The company is finished. Do not top up. Shares will be suspended soon. Then some time after, delisting. avoid
Hahahaha. You'll have to try harder than finding stuff from over 2 years ago. Totally different coal market, the didn't have shed loads of expensive debt etc etc etc.
What was I saying earlier this month?
What was I saying earlier this year?
Yes you did tell us ...
9 Feb 2022 11:48
There will be some overheads on top of those figures, but certainly a very profitable business and I continue to accumulate.
6 Dec 2021 12:18
Good buy that Mercman! I was a bit early with me averaging up price on Friday afternoon at 31.6p, but I'm confident it will prove to be a good buy too.
Well well well.
Quelle suprise.
Avani get the mine. Shareholders will be left with nothing. Just as I said would happen.
Hope that too many people didn't fall for the rose tinted shills (who seem to have disappeared, strange that) saying this was an opportunity to buy an undervalued business etc etc.
MBU Capital Group Limited have called a requisition as they can see Avani is going to take this to administration and then get given the assets as they are head lender. They will fail.
The company soon to suspend the shares and tell all the shareholders there is little value left. Company to be delisted withing 3 months after suspension. No reason for Avani to keep a listing. It is going private: SORRY GUYS. Get what ever you can out while some value remains.
"Operational" and "strategic" challenges. I would say having no workers, no money, and no equipment is a serious operational challenge. But I cannot see a strategic challenge, the only strategy is in future to avoid any companies with these people like the plague.
2nd Biggest shareholder wants a meeting. What a disaster.
Avani is now essentially the owner as largest creditor and will call all the shots. Ben will shortly be suspended and 3 months later the company will be delisted.
Avani now hit the court with DIP for $14 million. No way out for Ben with production dropping. RIP
Following extensive discussion in the telegram group on the likely outcome of the current plan of action and the likelihood this will end up with total write off of a ll shareholder equity, a group of us decided to challenge whether this is the best course of action for existing shareholder, specifically whether a liquidation may return some value compared to the write off.
As such two petitions were created for an EGM and a letter to the judge on the court case and we are collecting shareholders signatures:
Letter to BoD for EGM:
https://chng.it/xXFzLMJhGP
Letter to Bankruptcy Court Judge:
https://chng.it/jMzkmX8J4v
All shareholders are invited to sign both petitions ahead of the deadline of Monday 22nd when we aim to send them.
Then Avani get shafted. Ben gets liquidated and we all get 5p per share
Thank to Ben, I lost £11,577.81 precisely. I have only myself to blame for this but it could have been worse.
We all blamed John Story, the lack of trains, AW or this or that but we should have all sold our shares when John Story was out. That guy is genius and he sold out bang on right time!
Never investing in a mine company anymore as I had the worst experience.
I finally had to let go all my shares last week @ £80 :)
Sorry to everyone on this board who had the same experience as me, lets hope we get lucky elsewhere.
Good luck to all and all the best!
Rak0328
TW names the guilty ones. AW/PS/Iqbal and Allenby plus brown envelope man ZM. Funny how they are all men...not sure about Allenby. Time to launch a new US coal company I think.